EUR/USD Current price: 1.3003
Dollar finally succumbed and felt the heat this Thursday, losing ground strongly across the board. Positive US unemployment weekly claims initially sent EUR/USD to a fresh year low of 1.2910, but with the Dow hitting yet another record high and the S&P 500 coming within 2 points of its all-time high, investors turned to higher yielders. Some short covering after last days’ slide may also weight in the EUR recovery, that despite strong, remains corrective at this point: the pair continues developing below the daily descendant trend line coming from 1.3710 high. The hourly chart shows a positive stance when it comes to technical readings, with not much strength at the time being, with price pressuring the 1.3000 area. 4 hours chart shows price still below a bearish 20 SMA while indicators head back south, retracing from their midlines. Mentioned trend line comes today around 1.3050, and should attract sellers if reached.
Support levels: 1.2970 1.2920 1.2880
Resistance levels: 1.3020 1.3050 1.3085
EUR/JPY Current price: 124.91
Steady in range, the EUR/JPY waits for upcoming BOJ nomination vote in the Upper House later today: while the lower house has already approved Kuroda but is not quite clear what the opposition may vote. One thing seems for sure, and that is that if Kuroda is accepted, further yen weakness should be expected. From the technical side, the hourly chart shows price struggling around its 100 SMA, while indicators turn lower still in positive territory. In the 4 hours chart, indicators hover around their midlines, giving not a clear picture yet, although price holds above 100 and 200 SMA, with the latest still above the shorter one, leaving the risk to the downside.
Support levels: 124.50 124.10 123.70
Resistance levels: 125.20 125.60 126.00
GBP/USD Current price: 1.5075
Pound finally broke higher against the greenback, and reaching 1.5118 before easing to current levels. The hourly chart shows indicators still heading north despite in overbought territory, while the 4 hours ones are showing signs of exhaustion to the upside. However, the pair maintains a bullish stance that could extend up to 1.5200 area, as long as 1.5020 contains the downside.
Support levels: 1.5050 1.5020 1.4990
Resistance levels: 1.5090 1.5120 1.5160
USD/JPY Current price: 96.08
Back above the 96.00 level, the USD/JPY managed to reach an intraday high of 96.58 maintaining a pretty neutral stance as per recent range in the 95.80/96.60 area that leaves 1 hour indicators in neutral territory. Price however, seems unable to stand firm above the 100 SMA at current level. The pair however, will react to fundamental news rather than follow technical’s, with scope to test 97.20 on positive news.
Support levels: 96.80 95.50 95.20
Resistance levels: 96.40 96.70 97.20
AUD/USD: Current price: 1.0372
Aussie extended its winning strike up to 1.0400 against the greenback, with the hourly chart showing price challenging to the downside its 20 SMA that turned flat after the pair corrected lower. Indicators in the same time frame hold in positive territory and corrected extreme overbought readings, yet price pressures lower. In the 4 hours chart indicators also head lower still in positive territory, pointing for at least a bearish correction, with 1.0330 as immediate support level to watch.
Support levels: 1.0330 1.0300 1.0280
Resistance levels: 1.0400 1.0440 1.0490